These developments have elevated automotive electronics to the forefront of innovation, while completely changing the driving experience. A recent analysis by Counterpoint projects that India's automotive electronics market will grow at a compound annual growth rate (CAGR) of 17% and reach an astounding $18 billion by 2027. This growth is driven by factors like increased demand for digital in-car experiences and rising levels of disposable income.
Actually, this move away from conventional engines and mechanical components and towards EVs is spurring innovation in the sector. Due to this, automobiles are evolving into complex, networked centres designed to satisfy the many needs of modern consumers, going beyond simply being a means of mobility. In other words, customers now view driving as more than just a means of moving from one place to another; the experience is the main focus. In addition, the automotive sector is expected to witness a further increase in electronics integration to suit the evolving demands of consumers regarding efficiency and connection. Therefore, from autonomous driving features to smart infotainment systems, the possibilities are endless in this rapidly evolving industry. It's fascinating to see what the automobile business will bring!
Automotive electronics: Riding the wave of change
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